§ 5–604
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 5-604 (2026)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 6. Investments of Insurers Other Than Life Insurers
§ 5–604LinkCopy Citation
(a)
An insurer may not make an investment or loan unless the investment or loan is authorized by:
(1)
the board of directors of the insurer; or
(2)
a committee authorized by the board of directors of the insurer to supervise or make investments and loans.
(b)
The committee described in subsection (a)(2) of this section shall:
(1)
record its minutes; and
(2)
submit regular reports of the committee to the board of directors.